Island Federal Credit Union Provides $7M Acquisition Loan For Retail Property In Bushwick | 1291 Broadway | Island Federal Credit Union | Nicole Schmidt, Lynn Marcello, DJ Johnston | Retail | Loan

Summary

Loan

NEW YORK

Retail

A retail property located at 1291 Broadway in Bushwick has recently been involved in a closed transaction. The property spans a total of 16,084 square feet and was acquired through a loan.

Summary of transaction details:

Property Type: Retail
Transaction Amount: $7,000,000
Market: Bushwick
Lender: Island Federal Credit Union
Landlord: Bryan Murphy

The loan for the property was facilitated by B6 Real Estate Advisors, specifically Lynn Marcello and Nicole Schmidt. DJ Johnston, also representing B6 Real Estate Advisors, acted as the seller's representative in the transaction. The loan is an acquisition loan and features a loan-to-value (LTV) ratio of 78%. It has a 7-year term with an interest rate of 4.25% and no pre-payment penalty.

Players

All
6

Agents
3
Agencies
2
Lenders
1

Executive Vice President

$398.4M Sold

Matthews Real Estate Investment Services

B6 Real Estate Advisors

Island Federal Credit Union

Details

Deal Summary

FINANCED

IMAGE: DJ Johnston, Nicole Schmidt & Lynn Marcello DATE: 09/13/2022 ADDRESS: 1291 Broadway MARKET: Bushwick ASSET TYPE: Retail ~ SF: 16,084 LENDER: Island Federal Credit Union LANDLORD: Bryan Murphy MORTGAGE BROKERS: Lynn Marcello (@Lynnnstagram__) & Nicole Schmidt (@Nicole_MSchmidt) - B6 Real Estate Advisors SELLER'S REP: DJ Johnston (@B6RealEstate_JohnstonTeam) - B6 Real Estate Advisors LOAN AMOUNT: $7,000,000 LOAN TYPE: Acquisition LOAN TERMS: 78% LTV, 4.25%, 7 Year Term, No Pre-Payment Penalty

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Address1291 Broadway

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